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>> tim geithner said yesterday that heat the white house would be willing to go off the fiscal cliff if there is no movement by house republicans. would you be willing to go off the fiscal cliff if they did not budge on the top 2%? >> i did not understand the statement in the way that you characterized it. the way i think -- it was a prediction. if there is no agreement, then the fiscal cliff pass to be dealt with. i did not see it as if they do not do this, we do that. i saw it as a statement of fact. if there is no agreement, we go over the cliff. >> the governor christie is meeting at the white house with the president. this afternoon, as he has a meeting with the speaker. [inaudible] >> christie? i thought you were talking about sandy right now. >> [inaudible] >> i do not know that. i had a meeting with governor cuomo and i met with mayor bloomberg. they showed me the documentation of the challenges they're facing in their communities. they know that i am committed to the social compact the but we have to be there for people in times of natural disaster. one of the first things i
>> tim geithner said yesterday that heat the white house would be willing to go off the fiscal cliff if there is no movement by house republicans. would you be willing to go off the fiscal cliff if they did not budge on the top 2%? >> i did not understand the statement in the way that you characterized it. the way i think -- it was a prediction. if there is no agreement, then the fiscal cliff pass to be dealt with. i did not see it as if they do not do this, we do that. i saw it as...
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fiscal cliff or not, the s&p 500 is up 12% year to date. that is a handsome gain for investors, an optimistic year, believe it or not. and we already bailed out detroit's auto industry. but now, at least one motown politician is telling president obama he should bail out detroit bankrupt city government, too. this sure isn't the free market, and i asked why should a texas taxpayer bail out detroit? >>> breaking news from syria, and it is a blockbuster. the assad regime is walking and loading its chemical weapons, ready to use them on its own people. nbc's chief pentagon correspondent joins us now. jim, is this the red line president obama was warning about? >> well, not quite yet. u.s. officials tell us that the syrian military is poised to use chemical weapons against their own people, and all it would take really is the final order from syrian president assad. but we have learned that as of today, all the precursored chemicals for that deadly nerve gas have in fact now been loaded on to aerial bombs, but those bombs are still in the depot
fiscal cliff or not, the s&p 500 is up 12% year to date. that is a handsome gain for investors, an optimistic year, believe it or not. and we already bailed out detroit's auto industry. but now, at least one motown politician is telling president obama he should bail out detroit bankrupt city government, too. this sure isn't the free market, and i asked why should a texas taxpayer bail out detroit? >>> breaking news from syria, and it is a blockbuster. the assad regime is walking...
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we are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether the age of the supersized bank is over and the massive life change he made off of the sidelines and into a real football game. let's get to the floor show. we have freighters at the stock exchange, cme group and nynex. give me your thoughts. we go through grinding higher as far as the broader markets are concerned except for the russell which is looking weaker right now. just turned positive. we are all green for the major indices. does this continue through tomorrow? >> hard to tell. if you look at the way the markets have traded on an intraday basis we have
we are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether...
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fiscal cliff fiscal cliff fiscal cliff if you completely fell off the mainstream news clip this week here's what you might have missed can you hear me now no more reindeer games in washington president obama and house speaker john boehner finally on speaking terms but the question is are they speaking each other's language when it comes to the fiscal cliff falling off the fiscal cliff into freefall is there a soft landing or not would it be the end of the world if washington failed to reach a deal to stop the more than half a billion dollars in spending cuts and tax increases from going into effect my next guest says the fiscal cliff is simply watch u.k. fare all over again which amounted to nothing as i recall i agree we're not going to go over the cliff will hug him you know new year's eve he will be out of the work. so basically lots of speculation and very little substance but i can't say i'm not surprised particular but when i look at the recent rhetoric from this do nothing congress take us for example armed services committee just described the looming defense cuts as quote an
fiscal cliff fiscal cliff fiscal cliff if you completely fell off the mainstream news clip this week here's what you might have missed can you hear me now no more reindeer games in washington president obama and house speaker john boehner finally on speaking terms but the question is are they speaking each other's language when it comes to the fiscal cliff falling off the fiscal cliff into freefall is there a soft landing or not would it be the end of the world if washington failed to reach a...
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he says the white house is prepared to go over the fiscal cliff if republicans don't give in on higher taxes on the wealthy. you can see we're weighted to the up side by a ratio of 8:1 at the moment. finland is not trading today, so you may see some quotes not doing very well. we saw apple stock having the biggest loss in four years. the ftse yesterday slim gains really. up 0.4%, the dax up a quarter of a percent. is this a this is where we stand as we wait for the announcements from the ecb. we're up at a 52 week high for the xetra dax. cac 40 up half a percent and ibex up half a percent, as well. take a look at bond yields. we looked at that auction yesterday from spain. they raised 4.3 billion. years went lower. nevertheless spanish yields today 5.4%, slightly lower from where we closed, but they did move up substantially after a handle of 5.2. we'll keep our eye on gilts, as well. we'll look ahead to the bank of england. nothing expected from them, of course. 1.8%. david miles was the only man who voted for more qe at the last meeting. as far as currency rates are concerned, euro-d
he says the white house is prepared to go over the fiscal cliff if republicans don't give in on higher taxes on the wealthy. you can see we're weighted to the up side by a ratio of 8:1 at the moment. finland is not trading today, so you may see some quotes not doing very well. we saw apple stock having the biggest loss in four years. the ftse yesterday slim gains really. up 0.4%, the dax up a quarter of a percent. is this a this is where we stand as we wait for the announcements from the ecb....
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he was asked flat out is the white house ready to go over the fiscal cliff and boom he says, absolutely, as if that is a good thing. i mean there are defense contractors who are going to be laying off workers, there are all kinds of negative ramifications to all of this. but the white house apparently is ready to take the jump. >> well, they are certainly ready to say it. the republicans have a weaker hand than i thought they would originally have about a couple months ago, but the idea that president obama wants to start his second term by plunging the country into a recession, a huge sell off in the stock market, and by being perceived as generally sort of willing to play chicken with the economy doesn't sound like a brilliant political move to me. jon: you think that's all talk? >> i think it's a game of chicken, i really do. i think that the republicans would probably get a lot of blame in the beginning, and that's maybe what they are thinking of and they are trying to scare the republicans, but over the long term there is just no way this administration wants to go overt fisca over
he was asked flat out is the white house ready to go over the fiscal cliff and boom he says, absolutely, as if that is a good thing. i mean there are defense contractors who are going to be laying off workers, there are all kinds of negative ramifications to all of this. but the white house apparently is ready to take the jump. >> well, they are certainly ready to say it. the republicans have a weaker hand than i thought they would originally have about a couple months ago, but the idea...
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let's start with the fiscal cliff issue. when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25% and a territorial tax system and then individuals who have been filing their businesses as s-corporations or pass-through corporations can incorporate and get that lower rate. they can negotiate on the individual rates. >> so you don't think the ordinary income, then, the 39.6% that we're talking about, in that case, would apply to small business. they would fall under the corporate tax rate. >> yes, exactly. people forget that until 1986, corporate and individual rates were separate. a big part of the '86 act was to equalize them. there's
let's start with the fiscal cliff issue. when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25%...
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hold the phone, the president and speaker of the house did hold a fiscal cliff phone call. but there is still one big problem. the white house still doesn't want to budge. >> we saw no prospect for an agreement that doesn't involve the rates going up on the top 2%. >> gretchen: but isn't government spending the real problem? why aren't we hearing a lot about that, a lot of dough being thrown around. >> brian: how much do you know about the fiscal cliff? >> it reminds me about something i probably learned in school. but some type of cliff, the economy going pow. >> isn't that the government? this is embarrassing. >> brian: how many people really know what it is and what it means? we hit the streets. >> steve: indeed, and bob costas and his no spin zone to defend his half time gun control rant. what did he say and what does former nfl player think? he will join us live to react this hour. "fox & friends" hour two for thursday starts right now. >> gretchen: i thought the same thing that scarlet johansson was in times square answering ainsley's question. i thought what, a lucky
hold the phone, the president and speaker of the house did hold a fiscal cliff phone call. but there is still one big problem. the white house still doesn't want to budge. >> we saw no prospect for an agreement that doesn't involve the rates going up on the top 2%. >> gretchen: but isn't government spending the real problem? why aren't we hearing a lot about that, a lot of dough being thrown around. >> brian: how much do you know about the fiscal cliff? >> it reminds me...
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said the white house is, in fact, ready to go straight over the fiscal cliff. major garrett is at the white house. major, good morning. >> reporter: good morning, norah and charlie. later on this afternoon the president will travel across the potomac river to northern virginia to meet a middle-class family to make the self-evident point if the there is a deal and taxes are raised by about $2,000 they'll be happier and spend more money. that's the p.r. side of this. much more importantly, for the deal, the two key players yesterday picked up the phone. the phone call relatively brief and substantive, though details remain illusive. shorter, sources say. the last week 28-minute conversation described then as curt, direct and frank. no one with this call used such barbed words and occurred before treasury secretary tim geithner laid down this harsh fiscal cliff marker. >> if the administration, are they prepared to go over the fiscal cliff? >> absolutely. no prospect or agreement that doesn't involve those rates going on on the top 2%. remember, only 2%. >> report
said the white house is, in fact, ready to go straight over the fiscal cliff. major garrett is at the white house. major, good morning. >> reporter: good morning, norah and charlie. later on this afternoon the president will travel across the potomac river to northern virginia to meet a middle-class family to make the self-evident point if the there is a deal and taxes are raised by about $2,000 they'll be happier and spend more money. that's the p.r. side of this. much more importantly,...
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. >> this fiscal cliff thing, the problem with the republicans larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> with which i agree but i think the risk here for the gop is that they become the party of rich people. and i think you saw that in the election. i don't think that is their intent. i think their intent is quite sound. >> they are becoming the party of rich white older men. you can't think of any other section of the community right now thinking the republican party is for me. >> i think that is why the politics of this make it possible to go over the cliff. i think the democrats see if we go over the cliff the republicans get blamed. meanwhile. i think the republicans worry about bei ining blamed by a pri contender with the field. that doesn't mean they are obliged to stop this. his own party i
. >> this fiscal cliff thing, the problem with the republicans larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> with which i agree but i think the risk here for the gop is that they become the party of...
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. >> tom, business investment was down 2.2% in the latest gdp report, and a lot of that is fiscal cliff tied to that. when do you see business investments starting to pick up, because we all kind of know the housing story, we know consumers kind of hung in. i think actually the next big upside could be a business investment, if it comes back but when does that come, in your opinion? >> it's a tricky question because there's two dynamics when we talk about business investment, it's capital spending which has a huge tech component, but it's also construction activity because it's building out the commercial infrastructure, health care, roads, et cetera, that associate with capital spending itself. companies can be cautious and we know there are multi, multidecade levels of cautiousness given their cash and where spending is and at some point pure replacement has to take over. that's really what sparked the recovery in housing, we were scrapping so many homes and you had organic growth. i think we're getting to the break point soon. >> tom, let me ask you about a couple of your picks befor
. >> tom, business investment was down 2.2% in the latest gdp report, and a lot of that is fiscal cliff tied to that. when do you see business investments starting to pick up, because we all kind of know the housing story, we know consumers kind of hung in. i think actually the next big upside could be a business investment, if it comes back but when does that come, in your opinion? >> it's a tricky question because there's two dynamics when we talk about business investment, it's...
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it is in the house. the issue of the fiscal cliff, what's it mean? it is probably the most known phrase in politics. they say, you have to wait for everything. people understand you have to do a piece of the puzzle. you can do it today. the opportunity to keep this economy moving, it has done very well the last few years. we always wait for the big deal and something never happens. this is a chance for the middle class tax cut. i would encourage every day, what is holding it out? -- it up? you will see yourself getting a tax cut for the remainder of next year if we just move them forward. again, it is finished of the senate side. >> i want to thank my colleagues for the leadership on the steering committee in this area. we have senator olympia snowe, bill kristol of the weekly standard, like simpson of idaho. david brooks. walter jones. the national review. we're here to say that passing the middle class tax cut is the right thing to do. you don't need to take our word for it. 2/3 of the american public agree with us. you don't need to take that word
it is in the house. the issue of the fiscal cliff, what's it mean? it is probably the most known phrase in politics. they say, you have to wait for everything. people understand you have to do a piece of the puzzle. you can do it today. the opportunity to keep this economy moving, it has done very well the last few years. we always wait for the big deal and something never happens. this is a chance for the middle class tax cut. i would encourage every day, what is holding it out? -- it up? you...
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this fiscal cliff thing, the problem with the republicans, larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate is because, come the fiscal cliff moment, that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> speaking as a reagan conservative, i must say i rather agree with you. probably shouldn't. but i do. i think divided government is very difficult. and there's some principles that speaker boehner is fighting for, with which i actually agree. but i think politically, the risk here for the gop, is they've become the party of rich people. and they give up the middle-class to the democrats. and i think you saw some of that in the presidential election. i don't think that's their intent. i think their tax reform intent is quite sound. but the way this is playing out, i think that's a big risk for them. >> they're becoming the party of rich, white, older men, is
this fiscal cliff thing, the problem with the republicans, larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate is because, come the fiscal cliff moment, that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> speaking as a reagan conservative, i must say i rather...
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>> the white house has proposed extending them and it is opening day in terms of the fiscal cliff, their opening bid, they proposed extending basically a whole batch of them. they have just like everyone else, when we do tax reform we really need to get rid of some of these. >> host: you are a tax writer with see q roll-call, we have been talking about tax extender issues, and their role in the fiscal cliff negotiations. >> for video of other events we have covered about the fiscal cliff, see our special web page. there's also a live twitter stream with comments from the ridge and reporters and a resource area with related documents and links. c-span.org/fiscal cliff. >> an update from capitol hill reporter on the latest in the senate on president obama's proposal on the fiscal cliff and the debt ceiling. this is about five minutes. >> andrew taylor covers congress for the associated press. there were some attempts by mitch mcconnell to get roll-call votes on the president's debt plan and his fiscal cliff plan and the debt ceiling plan. what was he trying to do? >> guest: he was trying t
>> the white house has proposed extending them and it is opening day in terms of the fiscal cliff, their opening bid, they proposed extending basically a whole batch of them. they have just like everyone else, when we do tax reform we really need to get rid of some of these. >> host: you are a tax writer with see q roll-call, we have been talking about tax extender issues, and their role in the fiscal cliff negotiations. >> for video of other events we have covered about the...
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house speaker boehner said that will be a debating point in the debt ceiling and in the fiscal cliff when it comes to that. ashley: certainly will. milton ms. rought at this, thanks for being with us for your perspective on the market when we see what happens in washington. thanks so much. >> thank you. tracy: he is oozing confidence in washington, isn't he? ashley: yes. dripping with sarcasm i think is more --. tracy: sham else about. i love that word. it's a shambles. there is so much more ahead this hour including a biotech ceo what is hurting innovation in the sector. you guessed it, obamacare. a corda's ron cohen is here. ashley: apple making lots of news with its stock swings. reports it is shifting production away from china back to the u.s. as we do this time every day, look how oil is trading. down nearly 2%. bun a buck 73 at 86.15 a barrel. we'd be right back there is no mass-produced human. every human being is unique. and there is one store tha. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclus
house speaker boehner said that will be a debating point in the debt ceiling and in the fiscal cliff when it comes to that. ashley: certainly will. milton ms. rought at this, thanks for being with us for your perspective on the market when we see what happens in washington. thanks so much. >> thank you. tracy: he is oozing confidence in washington, isn't he? ashley: yes. dripping with sarcasm i think is more --. tracy: sham else about. i love that word. it's a shambles. there is so much...
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cheryl: they are leaving town despite the fact we are nowhere close to a deal on the fiscal cliff. what is going on, rich edson? "imus in the morning" rich: house republicans will host the events with small business leaders in their districts and highlight what republicans say will be the economic damage small-business from raising income-tax rates on families earning $250,000 a year. president obama is leaving washington too though he is only heading across the potomac river, going to suburban virginia to speak to a middle-class family and he will press congress to protect those making less than $250,000 a year from tax increases by raising rates on those making more. in washington it is the same fight. >> president obama, democrats in congress have ever been ambiguous, provide economic security for 90% of american families and 97% of small businesses asking the wealthiest 2% to contribute just a little more to stop this runaway debt. >> what the president is really interested in as we learned just yesterday he is getting as much taxpayer money as he can first by raising taxes on
cheryl: they are leaving town despite the fact we are nowhere close to a deal on the fiscal cliff. what is going on, rich edson? "imus in the morning" rich: house republicans will host the events with small business leaders in their districts and highlight what republicans say will be the economic damage small-business from raising income-tax rates on families earning $250,000 a year. president obama is leaving washington too though he is only heading across the potomac river, going...
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will be back in session december 17 to deal with the so- called fiscal cliff. he says the house will not adjourn until an agreement is reached. when the house gavels in next week, live coverage c-span. >> and think the writers institute is something that is very important within the culture. we are a culture of words, of voices. words are key to our imagination, our capacity to envision things. we are not completely tied to print on the page. but i think there is no other art form so readily accessible other than perhaps film, which we work with, too. there is something in literature that just captures the human spirit. >> join "booktv," "american history tv" as we look behind the scenes at the history of new york's capital, albany. sunday at 5:00 p.m. on american history tv on c-span 3. >> the joint economic committee today heard from the two economists on how to deal with the fiscal cliff. marchese said tax increases are necessary to reduce the deficit. senator bob casey of pennsylvania chaired the hearing. >> the committee will come to order. we want to than
will be back in session december 17 to deal with the so- called fiscal cliff. he says the house will not adjourn until an agreement is reached. when the house gavels in next week, live coverage c-span. >> and think the writers institute is something that is very important within the culture. we are a culture of words, of voices. words are key to our imagination, our capacity to envision things. we are not completely tied to print on the page. but i think there is no other art form so...
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this makes the white house as extreme in the house who are willing to go over the fiscal cliff instead of raising taxes on the wealthy. he's talking about the rates. he said rates on the wealthy. >> larry summers is a former treasury secretary, very smart, a harvard professor and we agree on a lot of things and that was not new. they've already agreed to raise rates on the wealthy. >> raising tax rates has been something the president's insisted on for two years. it was a central issue in the campaign. >> don't you think the republicans -- >> i think everybody gets it. the president is not signing legislation, no way, that does not raise tax rates. i think the president has been as clear as day that he will not do it without raising the level of tax. >> marginal? >> including marginal tax rates. he said the 35% rate has to move up, that base broadening alone is insufficient. >> maybe not 39.6. >> he has been as clear as day on that point. the president's position as i understand it has been that we have to raise rates but he is certainly prepared to combine rate raising with base broad
this makes the white house as extreme in the house who are willing to go over the fiscal cliff instead of raising taxes on the wealthy. he's talking about the rates. he said rates on the wealthy. >> larry summers is a former treasury secretary, very smart, a harvard professor and we agree on a lot of things and that was not new. they've already agreed to raise rates on the wealthy. >> raising tax rates has been something the president's insisted on for two years. it was a central...
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. >> this could be another negotiating chip in the fiscal cliff. harry reid's threat. it could be something to try to get more tax increases out of the republicans. megyn: interesting. this is a huge deal back in '06. you haven't heard as much about it now that the shoe is on the other foot. the democrats find themselves in the minority they play rue the day harry reid pushed this through. new questions how to tell if someone is too high to drive. now that marijuana is legal for recreational use in two states, authorities are trying to figure out what the legal limit should be for getting behind the wheel after you toke up. this is why. video of a crash that look the lives of four teenagers. prosecutors say the 17-year-old driver was high on marijuana when he got behind the wheel. it happened on long island in october. the driver took a curb at 110 miles an hour. crossed three lanes of traffic and skidded into trees, one of whicher to the car in half. he survived but his friend did not. the new marijuana law weren't into effect in the state. people can smoke for recrea
. >> this could be another negotiating chip in the fiscal cliff. harry reid's threat. it could be something to try to get more tax increases out of the republicans. megyn: interesting. this is a huge deal back in '06. you haven't heard as much about it now that the shoe is on the other foot. the democrats find themselves in the minority they play rue the day harry reid pushed this through. new questions how to tell if someone is too high to drive. now that marijuana is legal for...
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host: armstong williams, how do you see the fiscal cliff negotiations going? where do you see them going? guest: there is no doubt that the president signaled yesterday in his conversation to the speaker of the house, and no matter what the drumbeats of the politicians and activists may say to the media, there is no question he is committed to resolving this issue. you cannot resolve this issue bringing people back to certainty or to help business owners understand the liabilities they will face on january 1, 2013. there is no question that the president and the speaker will come to a compromise. back during the days of former president lyndon baines johnson and the senator leader at the time, some of the issues that are going on -- i will never forget when dirkson was talking to the president, and the president said we should meet this evening. the senator said i think we have reached our wit's end. johnson left the white house and met with the senator to show his commitment and said this is what we have to do. as a result of that meeting, they came to some d
host: armstong williams, how do you see the fiscal cliff negotiations going? where do you see them going? guest: there is no doubt that the president signaled yesterday in his conversation to the speaker of the house, and no matter what the drumbeats of the politicians and activists may say to the media, there is no question he is committed to resolving this issue. you cannot resolve this issue bringing people back to certainty or to help business owners understand the liabilities they will...
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is ready to go over the fiscal cliff. where do negotiations go from there? keep it right here on "morning joe." >>> good morning. it's 8:00 on the east coast 5:00 a.m. on the west coast. time to wake up, everybody. welcome back to "morning joe." take a live look at new york city. back with us onset we have harold ford. >> he is a professor. >> yes, he is. >> hard to believe. >> and a former member of congress. >> yes. >> steve rattner. >> he is a financier. >> yes he is. >> also hard to believe. >> and mark halperin in washington. >> he is a secret agent. won't tell us who he is meeting with. >> so cagey. >> boy, there are some stories here. unbelievable. you're talking about libya and i tell you what. you've got assad about to cross that red line and he's going to see russia leaving quick. i think he'll see even troops going in there if he starts using chemical weapons against his own people. morsi in trouble, egypt. the biggest revolt since mubarak was pushed out of power. the "new york times" also has another fascinati
is ready to go over the fiscal cliff. where do negotiations go from there? keep it right here on "morning joe." >>> good morning. it's 8:00 on the east coast 5:00 a.m. on the west coast. time to wake up, everybody. welcome back to "morning joe." take a live look at new york city. back with us onset we have harold ford. >> he is a professor. >> yes, he is. >> hard to believe. >> and a former member of congress. >> yes. >> steve...
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fiscal cliff. today the president h showcasing -- steve liesman asked the treasury sec temporary about the possibility of going over the cliff. >> i want to understand the administration's position when it comes to raising taxing on the wealthy, those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. there's no pros teblpect to the agreement that doesn't involve taxes going up on the wealthiest 2%. remember it's only 2%. >> i talk every day to our customers around this country, around the world sometimes for that matter too, but around the country, and they are all scared to death what happens in january, nobody knows, but all i know is going over the cliff is too hot to handle, it's an option we just can't stare in the face and there's no way we can do it. they will get us through this in one form or fashion. >> interesting call. conventional wisdom, obviously the white house and the secretary hardening their
fiscal cliff. today the president h showcasing -- steve liesman asked the treasury sec temporary about the possibility of going over the cliff. >> i want to understand the administration's position when it comes to raising taxing on the wealthy, those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. there's no pros teblpect to the agreement that doesn't involve taxes going up on the wealthiest...
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as the days until the country goes over the fiscal cliff goes by, more and more republicans have joined our chorus. they recognize that the willing misto compromise sooner has put them in a real bind. so reasonable republicans are asking the house leadership to allow a vote on the senate-passed legislation. what was once a trickle has become more of a flood. last week republican representative tom cole said it was time to give middle-class families certainty their taxes won't go up by $2,200 on average on january 1. then tim scott from north carolina ad admitted that the senate-passed tax cut will surely pass the house since it will take only 26 republican ren votes for passage. i don't most of the time agree with david brooks but no one can dispute this columnist for "the new york times" is brilliant in writing. he's a great, great journalist and explains things so well. i really have great admiration for him. he wrote yesterday, "republicans have to realize they are going to have to cave in on tax rates." that's the way it is, mr. president. "they're going to have to cave on tax rates
as the days until the country goes over the fiscal cliff goes by, more and more republicans have joined our chorus. they recognize that the willing misto compromise sooner has put them in a real bind. so reasonable republicans are asking the house leadership to allow a vote on the senate-passed legislation. what was once a trickle has become more of a flood. last week republican representative tom cole said it was time to give middle-class families certainty their taxes won't go up by $2,200 on...
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passing a good farm bill can be part of the solution to the fiscal cliff. the reality is, solving our nation's fiscal problem is achievable. we can find real budget savings in a far more thoughtful way than doing it through sequestration. reforming our tax code, reforming entitlement programs, and better control of our spending will work. add a measure of good-faith bipartisanship and we can get our nation growing again and we can get people back to work. for the sake of our country, we need to do it and we need to do it now. madam president, i'd like to address one other matter. i rise today to honor the lives of two north dakota soldiers who were killed in action on monday, december 3, in southern afghanistan while serving in support of operation enduring freedom. sergeant first class darren m. lindy and specialist tyler j.orguard were both members of the north dakota national guard assigned to the 818th engineering company. their unit has been tasked with an important but dangerous mission. they were conducting a route clearance operation when their vehi
passing a good farm bill can be part of the solution to the fiscal cliff. the reality is, solving our nation's fiscal problem is achievable. we can find real budget savings in a far more thoughtful way than doing it through sequestration. reforming our tax code, reforming entitlement programs, and better control of our spending will work. add a measure of good-faith bipartisanship and we can get our nation growing again and we can get people back to work. for the sake of our country, we need to...